pension

(redirected from pensionable)
Also found in: Dictionary, Thesaurus, Legal, Financial, Encyclopedia.

pension

(1) A regular payment plan intended to provide a person who retired from a job with a secure income for life.
(2) A monthly payment from a pension.
References in periodicals archive ?
At the time of his retirement, Mr Molefe had approximately 16 months actual pensionable service;
Question: If employer contributions to the pension plan are determined based on the pensionable payroll of covered employees and the pensionable payroll is different from the total payroll of those employees, which measure of payroll should be presented in the 10-year schedules required by paragraphs 81a and 81b of Statement 68?
And removing the pensionable element of the remaining premium rates would make this a lifelong pay cut, affecting staff's final salary pensions.
Regardless of the method of pensionable pay that has been selected though, you and/or your employer can pay in more than the legal minimum and you can pay in less as long as your employer's contribution means that at least the minimum will be paid in total.
He has ordered Finance Secretary Punjab to include amount of secretariat/Personal Allowance drawn by the pensioners towards pensionable emoluments and report compliance to the office of Ombudsman Punjab within one month.
Those of pensionable age will not be affected, but there are so many different anomalies that anyone unsure should contact their social landlord.
Dr Al Shaheen called the compulsory retirement age of 50 years EoACAyunfair', because it deprives people who have completed the pensionable service of 20 years of their pension.
I would like to point out that I agree with most of the points she makes, but the line must be drawn re the pensionable age taking precedence over our younger generation.
The key recommendations are: A move from final salary to a career average revalued earnings ("CARE") structure for all schemes, with the indexation of such CARE benefits whilst in pensionable service being linked to earnings rather than prices Members' normal pension age in the future should be linked to State Pension Age The introduction of a "cost ceiling" which would place an upper limit on the amount committed by Government to public service pensions over the longterm, with any breach of such ceiling triggering automatic mechanisms designed to bring costs back down ?
8% minimum employee contribution including a 3% employer's contribution, provided that the pensionable pay constitutes at least 85% of the total pay bill ?
Three forces nationally have so far confirmed they are seeking to implement compulsory retirement of officers with 30 years' pensionable service.